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Siluanov: the debt burden of the subjects of the Russian Federation will ease by a trillion rubles

The write-off of budget loans in the regions, subject to the allocation of funds for the implementation of infrastructure projects, will affect 79 constituent entities of the Russian Federation. The amount of write-offs can be more than a trillion rubles. This was reported by the head of the Ministry of Finance of the Russian Federation Anton Siluanov.

Siluanov: the debt burden of the subjects of the Russian Federation will ease by a trillion rubles
05.03.2025
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📝 Summary

The write-off of budget loans in the regions, subject to the allocation of funds for the implementation of infrastructure projects, will affect 79 constituent entities of the Russian Federation. The amount of write-offs can be more than a trillion rubles. This was reported by the head of the Ministry of Finance of the Russian Federation Anton Siluanov.

Vladimir Putin’s meeting with government members takes place in videoconference. The meeting is broadcast by Rossiya 24 TV channel, and the Government of the Russian Federation has approved the write-off rules. The Ministry of Finance of Russia is working to conclude agreements with the regions providing for the postponement of debt repayment for the period from 2024 to 2029 inclusive for the period, respectively, from 2030 to 2039 and the write-off of such debt as funds are allocated to infrastructure projects, Siluanov reported to the President. The regions propose to allocate funds from debt cancellation for housing and communal services expenses – about 50% of all write-offs; for resettlement from the emergency fund and renewal of public transport – 18% (almost 200 billion rubles), for the implementation of new investment projects – 13% (about 140 billion rubles). Also, about 5% (55 billion rubles) is proposed to be spent on the development of support settlements. For regions with a low level of budget provision, the possibility of directing funds for a broader list of expenses has been established, Siluanov added. Among them are the costs of achieving national development goals and supporting special military operations and their families. “It is important that today the volume of debt of the subjects is a little more than three trillion rubles, and such a write-off, such support for the regions will ease the debt time by about a third,” Siluanov said. The order to write off two-thirds of the budget loans of the regions, subject to the allocation of released funds for the implementation of infrastructure projects, Vladimir Putin gave in his Address to the Federal Assembly of the Russian Federation.

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